Market Updates

Pre-Market Report – Wednesday 7 May: US markets slip | Futures rally on Bessent moves to meet China


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Wall Street ended in the red as comments by Trump and Bessent were vague about when trade deals will be announced. S&P 500 down 0.77%, NASDAQ down 0.87%. Dow dropped at the open, rose into the green during the day, and slipped again before the close. Ended 390 points down, near low. All sectors red except Utilities and Energy. Utilities benefitted from drop in yields. Energy followed oil up from four year low. Healthcare worst performing sector. Down on tariff fears. Big names like Eli Lilly (-5.6%) and Merck (-4.6%) led losses. AMD down 2.0% ahead of earnings call which it beat. Down 0.7% in after hours trading. Tesla down 1.8% along with rivals Lucid (-1.3%) and Rivian (-0.4%) as the two EV makers flagged rising costs in earnings reports. Resources primarily up. Nickel, Copper, Tin all up. Lithium and Natural Gas down.

ASX to fall. SPI futures down 31 points (-0.38%). US futures up sugnificantly

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Market UpdatesBy Marcus Today


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